Updates, advisories and surprises

(9:51 PM ET) SAN FRANCISCO (MarketWatch) -- Albemarle Corp.
ALB, -0.36%
late Wednesday said fourth-quarter net income was $32.2 million, or 67 cents a share, compared with $19.6 million, or 46 cents a share, during the year-earlier period. Analysts polled by Thomson First Call had expected quarterly per-share earnings of 55 cents. The Richmond, Va.-based specialty chemicals company said quarterly revenue was $588.2 million, compared with $451.1 million last year. Analysts were looking for revenue of $518 million.

Intersil quarterly earnings rise

(9:47 PM ET) SAN FRANCISCO (MarketWatch) -- Intersil Corp.
ISIL
on Wednesday said fourth-quarter net income was $28.7 million, or 20 cents a share, compared with $15.6 million, or 11 cents a share, during the year-earlier period. The semiconductor manufacturer said pro forma per-share income for the quarter was 27 cents, compared with 11 cents last year. Intersil said fourth-quarter revenue was $175.6 million, compared with $127.1 million in the year-before period. Looking ahead, the company expects to report first-quarter per-share earnings of 20 cents to 21 cents on revenue close to the fourth quarter's result. The comany expects quarterly pro forma per-share income of 26 cents to 27 cents. Analysts polled by Thomson First Call are looking for per-share earnings of 23 cents on revenue of $165 million.

Pride International files 10-Q for 2005's 3Q

(9:07 PM ET) SAN FRANCISCO (MarketWatch) -- Pride International Inc.
PDE
Wednesday evening said it has filed its 10-Q report for the third quarter ended Sept. 30, 2005. The company reported net earnings and income from continuing operations of $68.9 million, or 41 cents per share, on revenue of $538.8 million. Compared with the previously reported preliminary results in the company's third-quarter earnings release, revenue and operating income for period ended were unchanged, while other income increased $2.4 million, and minority interest expense increased $1.2 million, resulting in an after-tax increase in net earnings of $1.2 million, or one cent a share. The Houston-based drilling contractor has restated its consolidated financial results for 2001 through 2004, as well as the first and second quarters of 2005 to correct for errors related to accounting for interest rate swap and cap agreements.

Meritage Homes quarterly earnings jump

(8:31 PM ET) SAN FRANCISCO (MarketWatch) -- Meritage Homes Corp.
MTH, +1.95%
after the closing bell Wednesday said fourth-quarter net income was $102 million, or $3.53 a share, compared with $51.8 million, or $1.88 a share, in the year-ago period. Eight analysts surveyed by Thomson First Call had forecast earnings of $3.15 a share. Shares of the Scottsdale, Ariz.-based company closed at $56.63, down 2.7%.

Plains Exploration to record 4Q pretax charge and credit

(8:08 PM ET) SAN FRANCISCO (MarketWatch) -- Plains Exploration & Production Co.
PXP, -22.40%
Wednesday evening said it expects to record in the fourth quarter a pretax charge of $6.9 million related to mark-to-market derivative contracts. The company added that in relation to stock appreciation rights, Plains Exploration expects to record a pretax credit of $4.2 million in the fourth quarter. The company added that on a barrel equivalent basis, it produced 62,900 barrels per day during the fourth quarter, a result within the prior outlook's range.

CORRECT: Take-Two reports final 4Q results

(8:03 PM ET) SAN FRANCISCO (MarketWatch) -- Take-Two Interactive Software Inc.
TTWO, -0.14%
late Wednesday reported fiscal fourth-quarter net earnings of $19.2 million, or 27 cents a share, vs. net earnings of $62.6 million, 91 cents a share, in the year-ago period. Revenue fell to $308.2 million from $438 million last year. The company released preliminary, unaudited results on Jan. 5, but said they needed more time to finalize them. The results released today are unchanged from those released Jan. 5. Separately, the New York-based maker of video games like Grand Theft Auto said Barbara Kaczynski has resigned from its board. The company named Michael Malone as her replacement, and the board size will remain at seven members. Robert Flug was named as non-executive chairman on an interim basis. Take-Two also said a fire has "significantly" damaged certain of its offices in New York. No employees were hurt, and the company said it "does not expect any significant effect on its business." (Correcting to reflect that revenue fell and that the company's board will remain at seven members.)

Furniture Brands quarterly profit falls 23%

(7:48 PM ET) SAN FRANCISCO (MarketWatch) -- Furniture Brands International Inc.
FBN
late Wednesday reported fourth-quarter net earnings of $17.1 million, or 34 cents a share, down 23% from $22.3 million, or 42 cents a share, last year. Analysts polled by Thomson First Call were expecting earnings of 30 cents a share. Revenue at the St. Louis-based home furnishings manufacturer fell to $593.5 million from $602 million. The company expects first-quarter earnings of 43 cents to 47 cents a share. It sees sales rising in the low-single digits from last year.

Perot sees 4Q earnings in-line with prior outlook

(7:43 PM ET) SAN FRANCISCO (MarketWatch) -- Perot Systems Corp.
PER, +0.00%
Wednesday evening said it expects fourth-quarter earnings per share to meet its previous outlook of 21 cents to 23 cents. Analysts polled by Thomson First Call are looking for per-share earnings of 22 cents. Perot, based in Plano, Texas, said quarterly revenue may slightly exceed its prior outlook of $515 million to $525 million. Analysts are looking for revenue of $522 million. For the first quarter, Perot expects per-share earnings of 18 cents to 20 cents, and revenue of $527 million to $540 million. For the first quarter, analysts are looking for per-share income of 23 cents on revenue of $532 million.

Burlington Resources quarterly profit more than doubles

(7:34 PM ET) SAN FRANCISCO (MarketWatch) -- Burlington Resources Inc.
BR, -0.27%
late Wednesday reported fourth-quarter net earnings of $927 million, or $2.45 a share, up from $400 million, or $1.02 a share, last year. Revenue at the Houston-based oil and gas company rose to $2.37 billion from $1.56 billion. Analysts polled by Thomson First Call had forecast revenue of $2.28 billion. Total production during the fourth quarter was 2,887 million cubic feet of natural gas equivalent per day vs. 2,846 MMcfed a year ago. Burlington Resources, which in December agreed to be acquired by ConocoPhillips, expects total production of 2,940 to 3,100 MMcfed during 2006.

Covance quarterly profit rises 9.8%

(6:37 PM ET) SAN FRANCISCO (MarketWatch) -- Covance Inc.
COVD
after Wednesday's closing bell posted fourth-quarter net earnings of $30 million, or 47 cents a share, a 9.8% rise from $27.3 million, or 42 cents a share, a year ago. Excluding a $4.4 million charge from the repatriation of $103 million in foreign income, earnings were $34.4 million, or 54 cents a share. The drug development company said revenue was $343.1 million vs. $282.4 million last year. Covance raised its 2006 earnings forecast to at least $2.33 a share, excluding stock-option expensing of 16 cents to 18 cents a share. It previously forecast earnings of at least $2.30 a share.

Skyworks quarterly profit tumbles 69%

(6:35 PM ET) SAN FRANCISCO (MarketWatch) -- Skyworks Solutions Inc.
SWKS, -0.24%
late Wednesday reported fiscal first-quarter net earnings of $4.29 million, or 3 cents a share, down 69% from $13.9 million, or 9 cents a share, in the year ago period. Pro forma income was 7 cents a share compared with 13 cents a share last year. Revenue at the Woburn, Mass.-based semiconductor company fell to $198.3 million from $220.2 million. Analysts were expecting earnings of 7 cents a share on revenue of $197.9 million. The company expects fiscal second-quarter revenue to decline 9% sequentially to $180 million.

NetLogic Microsystems swings to quarterly profit

(6:04 PM ET) SAN FRANCISCO (MarketWatch) -- NetLogic Microsystems Inc.
NETL
after Wednesday's closing bell reported fourth-quarter net earnings of $5 million, or 26 cents a share. Last year, it lost $75,000, or breakeven on a per-share basis. Earnings on a pro forma basis were $5.3 million, or 27 cents a share. Gross margin was 63% compared with 48% last year. Revenue rose to $21.2 million from $15.2 million a year ago. Analysts surveyed by Thomson First Call expected NetLogic, which specializes in semiconductors for routers, switches and networking equipment, to report earnings of 22 cents a share on revenue of $21 million.

Conexant narrows quarterly loss, sees 2Q EPS above views

(6:01 PM ET) SAN FRANCISCO (MarketWatch) -- Conexant Systems Inc.
CNXT, +0.24%
after Wednesday's closing bell posted a first-quarter net loss of $24.27 million, or 5 cents a share, compared with a loss of $120.7 million, or 26 cents a share, in the same period last year. Revenue at the Newport Beach, Calif.-based semiconductor equipment maker came in at $230.7 million vs. $140.6 million the year before. Excluding certain items, Conexant reported earnings of 2 cents a share. Analysts polled by Thomson First Call were looking for a per-share profit of a penny on revenue of $226 million. For the second quarter, Conexant said it expects earnings of 2 cents a share, while analysts are forecasting 1 cent a share. The company also said it sees sequential revenue growth of 3% to 5%, with core gross margins of 41.5% to 42.5% of revenues.

Duke Realty quarterly earnings fall; reaffirms 2006 FFO view

(5:47 PM ET) SAN FRANCISCO (MarketWatch) -- Duke Realty Corp.
DRE, -1.43%
after the closing bell on Wednesday reported fourth-quarter net earnings of $33.1 million, or 22 cents a share, vs. $45.1 million, or 29 cents a share, during the same period a year ago. Funds from operations were 61 cents a share compared with 67 cents a share a year ago. Revenue from continuing operations totaled $199.4 million, up from $193.2 million last year. The Indianapolis-based real estate investment trust also said it has increased its credit facility by $500 million to $1 billion. For the first quarter, Duke sees FFO per share in a range of 49 cents to 51 cents. In addition, the company reaffirmed its 2006 FFO-per-share outlook of $2.32 to $2.45.

Polycom quarterly earnings, revenue rise

(5:36 PM ET) SAN FRANCISCO (MarketWatch) -- Polycom Inc.
PLCM
after the closing bell on Wednesday reported fourth-quarter net earnings of $9.27 million, or 10 cents a share, compared with $8.14 million, or 8 cents a share, during the same period a year ago. Pro forma earnings were 23 cents a share for the quarter. The Pleasanton, Calif.-based maker of video, voice, data and Web conferencing equipment posted revenue of $156.1 million vs. $146.5 million. Analysts surveyed by Thomson First Call had forecast fourth-quarter earnings of 21 cents a share on revenue of $151 million.

Stanley Works profit misses targets despite higher sales

(5:28 PM ET) SAN FRANCISCO (MarketWatch) -- Toolmaker Stanley Works
SWK, -0.92%
reported late Wednesday fourth-quarter net income of $60.2 million, or 70 cents a share, down from $88.1 million, or $1.04 a share, a year ago. Revenue for the three months ended Dec. 31 totaled $839.4 million, up from $790.9 million. Analysts polled by Thomson First Call had expected the New Britain, Conn.-based company to earn 82 cents a share on revenue of $855.5 million. Stanley Works shares closed ahead of the report at $51.85, down 1.1% for the day, after touching a 52-week high earlier in the session of $53.13.

STATS ChipPAC swings to quarterly profit

(5:12 PM ET) SAN FRANCISCO (MarketWatch) -- -- STATS ChipPAC Ltd.
STTS
after Wednesday's closing bell reported fourth-quarter net earnings of $16.8 million, or a penny a share. During the same period a year ago, the company reported a net loss of $469 million, or 24 cents a share. The Singapore-based provider of semiconductor test and packaging services recorded net earnings of 8 cents per American depository share, compared with a net loss of $2.41 per ADS in the year-ago period. Pro forma earnings were 15 cents per ADS for the quarter. The company posted revenue of $357.5 million vs. $265.8 million. Looking ahead, the company expects first-quarter net earnings of 3 cents to 6 cents per ADS on revenue that is 3% to 8% higher than the fourth quarter of 2005.

C.R. Bard posts 15% higher quarterly profit

(5:12 PM ET) SAN FRANCISCO (MarketWatch) - C.R. Bard Inc.
BCR, +0.09%
after the closing bell Wednesday reported fiscal third-quarter net earnings of $80.1 million, or 75 cents a share, up 15% from $69.8 million, or 65 cents a share, a year ago. Earnings on an adjusted basis were $78 million, or 73 cents a share. Revenue was $452 million vs. $424 million last year. Analysts surveyed by Thomson First Call were expecting the Murray Hill, N.J., medical products maker to post a profit of 76 cents a share on revenue of $462 million.

Identix quarterly loss narrows

(5:10 PM ET) SAN FRANCISCO (MarketWatch) -- Identix Inc.
IDNX
after Wednesday's closing bell reported a fiscal second-quarter net loss of $1.68 million, or 2 cents a share, vs. a net loss of $2.77 million, or 3 cents a share, last year. Revenue at the Minnetonka, Minn.-based biometric technology company rose to $22.2 million from $18.6 million a year ago. Analysts polled by Thomson First Call had forecast a loss of 2 cents a share on revenue of $22.4 million. The company expects a fiscal third-quarter loss of a penny to 3 cents a share on revenue of $21 million to $24 million, and fiscal fourth quarter results of breakeven on a per-share basis to a profit of one cent on revenue of $24 million to $28 million. Analysts are expecting a third-quarter loss of a penny a share on revenue of $25 million.

Cirrus Logic quarterly profit, revenue rise

(5:01 PM ET) SAN FRANCISCO (MarketWatch) - Cirrus Logic
CRUS, +0.57%
after the closing bell Wednesday reported fiscal third-quarter net earnings of $12.8 million, or 15 cents a share, compared with $2.5 million, or 3 cents a share, a year ago. Earnings excluding a foreign-tax benefit were $7.6 million, or 9 cents a share. Revenue at the analog and digital chipmaker came in at $48.3 million, up from $44 million. Gross margin was 55.1% vs. 39.1%. The Fremont, Calif.-based company forecast fourth-quarter gross margin of 55% to 57% and revenue of $41 million to $45 million. Analysts currently expect Cirrus Logic to post fourth-quarter revenue of $45 million and a per-share profit of 7 cents.

Cognex quarterly income rises

(4:54 PM ET) SAN FRANCISCO (MarketWatch) -- Cognex Corp.
CGNX, -1.23%
after Wednesday's closing bell said fourh-quarter net income was $11.8 million, or 24 cents a share, compared with $6.64 million, or 14 cents a share, during the year-earlier quarter. Analysts had expected the manufacturer of machine vision products to report per-share earnings of 23 cents. Cognex said fourth-quarter revenue was $60.8 million, compared with $43.9 million last year. Analysts were looking for revenue of $60 million. For the first quarter, the company expects revenue between $60 million and $63 million. Analysts are looking for revenue of $63 million. Cognex expects per-share earnings of 16 cents to 20 cents during the first quarter, and pro forma results between 20 cents and 24 cents. Analysts are looking for per-share earnings in the first quarter of 25 cents.

Varian Medical quarterly profit rises 2.2%

(4:51 PM ET) SAN FRANCISCO (MarketWatch) -- Varian Medical Systems Inc.
VAR, -0.49%
after Wednesday's closing bell reported fiscal first-quarter net earnings of $41.2 million, or 30 cents a share, up 2.2% from $40.3 million, or 29 cents a share, in the year-ago period. Revenue at the Palo Alto, Calif.-based maker of cancer therapy systems rose to $334.2 million from $299 million last year. Analysts polled by Thomson First Call had forecast earnings of 33 cents a share on revenue of $331 million. The company expects earnings in both its fiscal second-quarter and fiscal 2006 to rise 17% to 18% from a year ago, excluding stock-option expense. The company forecast second-quarter revenue growth in the mid-teens, and said it expects fiscal 2006 revenue to increase 14%. Varian estimated stock-option expense of 6 cents a share in the second quarter, and 19 cents to 22 cents a share for fiscal 2006

Silicon Storage swings to quarterly profit

(4:45 PM ET) SAN FRANCISCO (MarketWatch) -- Silicon Storage Technology Inc.
SSTI, -0.61%
after Wednesday's closing bell said fourth-quarter net income was $8.44 million, or 8 cents a share. During the same period last year, the Sunnyvale, Calif.-based computer memory company reported a net loss of $26.9 million, or 28 cents a share. Analysts polled by Thomson First Call had expected per-share earnings of 2 cents. Silicon Storage said quarterly revenue was $133.2 million, compared with $104.1 million last year. Analysts were looking for revenue of $135 million. For the first quarter, the company expects revenue of $117 million to $132 million. Analysts are looking for revenue of $122 million. The company added that it expects first-quarter per-share income of 7 cents to 12 cents. Analysts are looking for a breakeven per-share result

Harris 2Q profit falls 33.5%; ups FY06 pro forma EPS view

(4:43 PM ET) SAN FRANCISCO (MarketWatch) - Harris Corp.
HRS, +0.59%
after Wednesday's closing bell reported fiscal second-quarter net earnings of $30 million, or 22 cents a share, down 33.5% from $45.1 million, or 33 cents a share, a year ago. Earnings on a pro forma basis were $72.5 million, or 52 cents a share. The communications products provider said revenue rose to $841.6 million from $737.2 million. Analysts surveyed by Thomson First Call were expecting earnings of 49 cents a share on revenue of $838 million. Melbourne, Fla.-based Harris increased its fiscal 2006 pro forma per-share forecast to $2.05 to $2.15, and forecast a per-share profit of $1.56 to $1.66. It also sees a 2006 revenue increase of 13% to 15% from the year-ago period.

Alliance Capital quarterly net income rises 27%

(4:39 PM ET) SAN FRANCISCO (MarketWatch) -- Alliance Capital Management Holding LP
AC, +1.56%
said late Wednesday that fourth-quarter profit rose 27% as the money manager pulled in more institutional assets and the company's international funds performed well. Net income came in at $290 million, or $1.02 a share, versus $228 million, or 80 cents a share, a year earlier, the New York-based company reported. Alliance was expected to earn 96 cents a share, according to the average forecast of nine analysts in a Thomson First Call survey. Alliance Capital, which will change its name to AllianceBernstein in February, also said asset under management stood at $579 billion at the end of 2005, up 7.4% from a year ago.

Ameristar Casinos quarterly earnings fall slightly

(4:37 PM ET) SAN FRANCISCO (MarketWatch) -- Ameristar Casinos Inc.
ASCA, +0.00%
after Wednesday's closing bell said fourth-quarter net income was $14.3 million, or 25 cents a share, compared with $14.5 million, or 26 cents a share, during the year-earlier period. Analysts polled by Thomson First Call had expected per-share earnings of 26 cents. The Las Vegas-based casino operater said quarterly revenue was $243.8 million, compared with $214.7 million last year. Analysts were looking for revenue of $235 million. Ameristar expects pro forma first-quarter earnings per share of 38 cents to 40 cents. Analysts are looking for per-share earnings of 37 cents. For the full year, the company expects to report pro forma per-share earnings of $1.36 to $1.44. Analysts are looking for results of $1.38.

Sanmina quarterly profit falls 13%, revenue declines 12%

(4:34 PM ET) LOS ANGLES (MarketWatch) -- Sanmina-SCI Corp.
SANM, +1.53%
late Wednesday said its fiscal first-quarter fell 13% as revenue declined but met analysts' average expectation. Sanmina said its profit fell to $21.2 million, or 4 cents a share, from $24.4 million, or 5 cents a share, a year earlier. Revenue for the period ended Dec. 31 decreased 12% to $2.86 billion from $3.25 billion. Excluding items like restructuring charges and stock-option expenses, the company would have earned $39.6 million, or 8 cents a share, down from $45.7 million, or 9 cents a share, a year earlier but just ahead of analysts' estimates. Wall Street analysts, on average, expected the San Jose, Calif.-based contract manufacturer of sophisticated electronic components would earn 7 cents a share on revenue of $2.85 billion for the period, according to a Thomson First Call survey. The company issued a profit outlook for its current fiscal second quarter that was in line with current expectations.

Applied Micro Circuits quarterly loss narrows

(4:32 PM ET) SAN FRANCISCO (MarketWatch) -- Applied Micro Circuits Corp.
AMCC
after Wednesday's closing bell reported a fiscal third-quarter net loss of $534,000, or breakeven on a per-share basis, vs. a net loss of $6.42 million, or 2 cents a share, in the year-ago period. On a pro forma basis, earnings came in at 2 cents a share compared with a loss of a penny a share last year. Revenue at the Sunnyvale, Calif.-based circuit maker rose to $65.2 million from $61.1 million a year ago. Analysts polled by Thomson First Call had estimated earnings of a penny a share on revenue of $65 million.

Airgas boosts profit on 17% rise in sales

(4:27 PM ET) SAN FRANCISCO (MarketWatch) -- Industrial and medical gas supplier Airgas Inc.
ARG, -1.33%
reported late Wednesday fiscal third-quarter 2005 net income of $30.8 million, or 39 cents a share, up from $23 million, or 30 cents, a year ago. Income from ongoing operations, which excludes results from Rutland Tool & Supply, which was sold Dec. 1, was $32.7 million, or 41 cents a share. Analysts polled by Thomson First Call had expected the Radnor, Pa.-based company to post earnings of 38 cents a share. Revenue for the three months ending Dec. 31 rose 17% to $702 million from $601 million a year earlier. Shares of Airgas closed ahead of the report at $32.72, up 0.8%.

CACI International earnings, sales higher in fiscal 2Q

(4:24 PM ET) SAN FRANCISCO (MarketWatch) - CACI International
CAI, +1.20%
on Wednesday reported improved fiscal-second-quarter results and said that though it will have a record year, U.S. defense budget delays will cut into its revenue and earnings in the second-half. Arlington, Va.-based CACI reported earnings of $22.3 million, or 72 cents a share, up from $19.1 million, or 63 cents a share, last year. Revenue rose to $419.5 million in the quarter, up from $389.7 million. Analysts had expected a profit of 70 cents a share with revenue of $423 million, according to Thomson First Call.

Altera profit up 20%; sales lighter-than-expected

(4:22 PM ET) SAN FRANCISCO (MarketWatch) -- Altera Corp.
ALTR, -0.22%
said it earned $69.7 million, or 19 cents a share, up from $58 million, or 15 cents a share, in the same timeframe last year. Sales rose 18% to $281.9 million, but below the company's own guidance. Analysts polled by Thomson First Call expected Altera to earn 19 cents a share on revenue of $292 million. San Jose, Calif.-based Altera makes chips that can be programmed to perform specific functions for a wide range of products, such as Internet routers, cell phone base stations, flat-panel televisions and DVD players.

Raymond James profit rises 15% to $45.1 million

(4:19 PM ET) NEW YORK (MarketWatch) -- Raymond James Financial Inc.
RJF, +0.28%
on Wednesday said first-quarter net income rose 15% to $45.1 million, or 60 cents a share, up from $39.2 million, or 52 cents a share, from the same period last year. Revenue for the period was $527 million. The regional broker was expected to earn 55 cents a share, according to the average analyst estimate as measured by Thomson First Call. Shares of the company rose $1.22, or 3.1%, to close at $41.27.

InfoSpace sales rise, profits gain on tax benefit

(4:18 PM ET) SAN FRANCISCO (MarketWatch) -- InfoSpace Inc.
INSP, -4.55%
reported fourth-quarter sales Wednesday that rose 9% from the same period last year. Net profit for the quarter came in at $37.9 million, or $1.13 cents a share, compared to a profit of $18.9 million, or 50 cents a share, for last year. Revenue for the period was $86.5 million compared to $79.9 million last year. The company said its profit excluding a tax benefit of $25 million, or 74 cents a share, was $12.9 million, or 39 cents a share. Analysts were expecting a profit of 27 cents a share on revenue of $85.4 million, according to consensus estimates from Thomson First Call.

PMC-Sierra sees earnings grow 39%; revenue misses target

(4:15 PM ET) SAN FRANCISCO (MarketWatch) - PMC Sierra Inc.
PMCS
reported a 39% rise in net earnings for the fourth quarter after Wednesday's closing bell. The chipmaker said earnings for the period were $18.2 million, or 10 cents a share, compared to earnings of $13.1 million, or 7 cents a share, for the same period the previous year. Excluding certain items, the company said earnings for the period would have been $12.8 million, or 7 cents a share. Revenue grew to $77.6 million from $61.8 million in the previous period. Analysts were expecting earnings of 7 cents a share on revenue of $78.5 million, according to consensus estimates from Thomson First Call.

Callaway narrows loss on demand for new products

(4:14 PM ET) SAN FRANCISCO (MarketWatch) -- Callaway Golf
ELY, +0.00%
on Wednesday said it narrowed its fourth-quarter loss to $18.7 million, or 27 cents a share, from $28.5 million, or 42 cents a share, a year ago. Excluding a 5-cent per-share charge relating to the integration of its Top-Flite acquisition in late 2003, the golf club, ball and apparel maker would have lost only 22 cents a share. Analysts polled by Thomson First Call had expected a loss of 23 cents a share on sales of $160 million. Revenue rose to $154.5 million from $144.4 million a year on rising demand for new products.

Novellus Systems reports lower profit, tops estimates

(4:10 PM ET) SAN FRANCISCO (MarketWatch) -- Novellus Systems Inc.
NVLS
reported fourth-quarter profit Wednesday that fell 39% from the same period last year. Revenue for the period was $332.3 million compared to $340.3 million last year. Net income for the quarter came in at $23 million, or 17 cents a share, compared to a profit of $37.5 million, or 27 cents a share, for last year. The company said profits excluding certain charges were $28.7 million, or 21 cents a share. Analysts were expecting a profit of 16 cents a share on revenue of $314.6 million, according to consensus estimates from Thomson First Call.

Qualcomm profit rises 21% on strong handset sales

(4:10 PM ET) WASHINGTON (MarketWatch) -- Qualcomm Inc.
QCOM, -0.95%
on Wednesday said first-quarter profit climbed 21%, as sales of cheaper wireless handsets rose in developing countries and sales of fancier phones remained strong in the U.S. and Europe. The company said net income rose to $620 million, or 36 cents a share, from $513 million, or 30 cents, a year ago. Excluding one-time items and results from its investments, Qualcomm said it earned $667 million, or 39 cents a share. Revenue jumped 25% to $1.74 billion. The company was expected to earn 38 cents a share on revenue of $1.75 billion, according to the consensus of analysts surveyed by Thomson First Call. Looking ahead, the San Diego-based company forecast profit from operations of 35 cents to 37 cents in the second quarter on revenue of as high as $1.73 billion. Wall Street was projecting a profit of 36 cents a share on sales of $1.73 billion.

Juniper Networks reports $105.5 million profit

(4:09 PM ET) SAN FRANCISCO (MarketWatch) -- Juniper Networks Inc.
JNPR, -0.07%
on Wednesday posted a fourth-quarter profit of $105.5 million, or 17 cents a share, on revenue of $575.5 million. During the same period a year ago, Juniper earned $66 million, or 11 cents a share, on $430 million in revenue. Excluding charges and one-time items, Juniper would have earned $119.6 million, or 20 cents a share, to meet the estimates of analysts surveyed by Thomson First Call, who forecast a profit of 20 cents a share, on revenue of $579 million.

LSI Logic swings to Q4 profit, tops expectations

(4:08 PM ET) SAN FRANCISCO (Marketwatch) -- LSI Logic Corp.
LSI, -0.28%
late Wednesday said it swung to a fourth-quarter profit. The chipmaker earned $38 million, or 9 cents a share, in the fourth-quarter, compared with a loss of $197 million, or 51 cents a share, in the year-ago period that was weighed down by a big non-cash charge tied to its chip factory. Sales rose 21% to $506 million. Excluding special items, LSI Logic earned 13 cents a share. Analysts polled by Thomson First Call expected LSI Logic to earn 11 cents a share on revenue of $488 million. The Milpitas, Calif.-based firm makes a wide range of chips for products such as DVD recorders, Internet routers, TV cable boxes, portable music players and data storage systems.

VistaPrint shares rally on strong 2Q earns

(3:31 PM ET) NEW YORK (MarketWatch) -- Shares of VistaPrint
VPRT
leapt 12.2% to $30.51 Wednesday afternoon. After Tuesday's closing bell, the Bermuda-based provider of graphic design services reported second-quarter earnings of $5.5 million, or 13 cents a share, a nickel ahead of the average estimate of analysts polled by Thomson First Call. Revenue jumped 72% in the latest three months ended Dec. 31 to $36.4 million from $21.1 million in the same period a year earlier. VistaPrint, which held its initial public offering in late September selling 10 million shares at $11 each, also said Paul Flanagan has worked out a transition plan to leave the company. Flanagan will remain at VistaPrint through June 30, and provide consulting services through Jan. 1, 2007.

RedEnvelope shares slide; co. sees FY06 loss, CEO resigns

(3:11 PM ET) NEW YORK (MarketWatch) -- Shares of RedEnvelope
REDE
tumbled 6.2% to $9.78 on Wednesday afternoon. After Tuesday's closing bell, the San Francisco-based Internet and catalog upscale gift retailer reported third-quarter earnings of $4.1 million, or 43 cents a share, up from a year-ago profit of $2.8 million, or 30 cents a share, and below the average estimate of analysts polled by Thomson First Call was for a profit of 52 cents a share. Looking ahead, citing lower than anticipated growth in the second half, the company forecast a loss of less than $5 million for the year. RedEnvelope also said it's accepted the resignation of Alison May as president and CEO. May will remain in her position until a successor is found.

Energen quarterly earnings, revenue surge; raises div 10%

(1:04 PM ET) SAN FRANCISCO (MarketWatch) -- Energen Corp.
EGN, -0.31%
on Wednesday reported fourth-quarter net earnings of $57.3 million, or 78 cents a share, vs. $31.3 million, or 43 cents a share, during the same period a year ago. The Birmingham, Ala.-based energy holding company posted revenue of $335.1 million compared with $231.2 million. Analysts polled by Thomson First Call had forecast fourth-quarter earnings of 61 cents a share on revenue of $272 million. Energen also reaffirmed its 2006 outlook of per-share earnings between $3.25 and $3.60. The company said it plans to invest about $146 million in development capital. Separately, Energen raised its quarterly dividend by 10% to 11 cents from 10 cents a share. The dividend is payable March 1 to shareholders of record as of Feb. 15.

Caterpillar reaches all-time high ahead of quarterly report

(11:27 AM ET) NEW YORK (MarketWatch) -- Shares of Caterpillar
CAT, +0.15%
have run up 3% to an all-time high Thursday, a day before the machinery maker is scheduled to report fourth-quarter results. Analysts surveyed by Thomson First Call are expecting earnings of $1.10 a share and revenue of $9.14 billion. The stock was last up $1.85 at $63.20. The stock is currently the biggest percentage gainer among Dow industrials components.

R&D, sales costs weigh on General Dynamics Gulfstream margin

(11:25 AM ET) SAN FRANCISCO (MarketWatch) -- One-time research and development expenses from a new jet and sales costs pressured margins at General Dynamics'
GD, +0.22%
Gulfstream executive jet division, General Dynamics Chief Executive Officer Nicholas Chabraja said during a conference call on Wednesday after the company's fourth-quarter results. The Gulfstream margins were 13% in the quarter; for the year, the margins are expected to be in a range of 14% to 14.5%. Gulfstream new jet orders totaled 124 aircraft during 2005, or 121 after cancellations -- a 26 jet increase over 2004, Chabraja said. Backlog at Gulfstream rose by $1.2 billion to $8.1 billion.

CNF falls to 3-mo. low on disappointing results, outlook

(10:18 AM ET) NEW YORK (MarketWatch) -- Shares of CNF Inc.
CNF, -39.53%
slumped nearly 10% to 3-month low after the trucking company's fourth-quarter earnings and first-quarter outlook fell short of expectations. The company said late Tuesday that it earned $51.2 million, or 92 cents a share, up from $32.2 million, or 58 cents a share in the year-earlier period. Excluding discontinued operations, earnings would have been 97 cents a share, missing the average analyst estimate compiled by Thomson First Call of $1. Revenue rose to $1.09 billion from $967.5 million. For the first quarter, the company expects ongoing earnings of 71 to 77 cents a share, below analyst forecasts of 79 cents. Stephens Inc. followed by downgrading the stock to equal weight from overweight, and by cutting its price target to $53 from $63, citing concerns over yield growth and deteriorating margins. The stock was last down $5.33, or 9.5% at $50.59, the lowest price seen since Oct. 20.

McClatchy 4Q earnings slip on lower advertising

(9:28 AM ET) NEW YORK (MarketWatch) -- Newspaper publisher McClatchy Co.
MNI, -1.54%
on Wednesday posted fourth quarter earnings of $45.4 million, or 97 cents a share, compared to earnings of $47.8 million, or $1.02 a share, in the year ago fourth quarter. Analysts, on average, were expecting a profit of 99 cents, according to Thomson First Call. Revenues in the fourth quarter were $309.8 million, up 0.5%. December advertising, which was down 1.0%, pushed fourth quarter results below the company's expectations.

CNH Global sees 4Q earns $7M vs $26M

(9:05 AM ET) NEW YORK (MarketWatch) -- CNH Global N.V.
CNH, -5.56%
Wednesday reported fourth-quarter earnings of $7 million, or 3 cents a share, down from a year-ago profit of $26 million, or 11 cents a share. Excluding restructuring charges, the company posted earnings of $43 million, or 17 cents a share, in the December period. The average estimate of analysts polled by Thomson First Call was for a profit of 19 cents a share in the December period. Looking ahead, the Amsterdam-based provider of agricultural and construction equipment forecast sales growth of 2% to 5% for the full year. The stock closed Tuesday at $18.37, down 3 cents.

Cullen/Frost's net income rises 17%

(9:02 AM ET) NEW YORK (MarketWatch) -- Cullen/Frost Bankers
CFR, +0.62%
on Wednesday reported fourth-quarter net income of $44.9 million, or 81 cents a share, compared with earnings of $38.3 million, or 71 cents a share, a year ago. Analysts polled by Thomson First Call expected the bank to earn 81 cents a share. "As a result of a rising interest rate environment -- which is a positive for a bank like Frost with an asset-sensitive balance sheet -- net interest margin for the year rose again to 4.45 percent, the highest level since 2002," noted Chairman and CEO Dick Evans in a statement.

Norfolk Southern earnings rise 37%

(8:52 AM ET) NEW YORK (MarketWatch) - Norfolk Southern Corp.
NSC, +0.49%
reported fourth-quarter net income Wednesday of $362 million, or 87 cents a share, compared with $264 million, or 65 cents a share in the year-earlier period. Revenue at the railroad operator in the three months ended Dec. 31 grew 16% to $2.26 billion from $1.95 billion. Analysts polled by Thomson First Call forecast earnings, on average, of 75 cents a share from sales of $2.21 billion.

FirstFed results beat, helped by growth in loan portfolio

(8:46 AM ET) NEW YORK (MarketWatch) -- FirstFed Financial Corp.
FED, -3.38%
parent company of the First Federal Bank of California, posted Wednesday fourth-quarter net income of $28.2 million, or $1.67 a share compared with $16.4 million, or 97 cents a share in the year-ago quarter. The Santa Monica, Calif. said its quarterly performance was boosted by higher net interest income due to growth in its loan portfolio. The Thomson First Call average estimate was for earnings of $1.21 a share. On Tuesday, the stock rose 72 cents to $56.88.

Exelon reports loss vs. year-ago profit

(8:46 AM ET) NEW YORK (MarketWatch) -- Exelon Corp.
EXC, -1.14%
reported a fourth-quarter loss of $844 million, or $1.26 a share, vs. a profit of $363 million, or 54 cents a share in the year-earlier period. Excluding non-recurring items, earnings would have been 72 cents a share, vs. the average analyst estimate compiled by Thomson First Call of 73 cents. Revenue rose to $3.84 billion from last year's $3.31 billion. The electric utility reiterated its 2006 adjusted earnings outlook of $3 to $3.30 a share. The stock closed Tuesday up 31 cents at $58.86.

CORRECT: Colgate profit increases

(8:45 AM ET) NEW YORK (MarketWatch) -- Colgate-Palmolive Co.
CL, +0.53%
said Wednesday that fourth-quarter profit rose to $361.2 million, or 65 cents a share, from $285.7 million, or 50 cents, a year ago. Excluding restructuring charges and other items, earnings would have been 69 cents a share, or 1 cent ahead of analysts' average estimate, according to Thomson First Call. Sales for the three months ended Dec. 31 rose to $2.9 billion from $2.8 billion in last year's fourth quarter. The New York-based consumer-products company forecast double-digit percent gains in earnings per share for the first quarter and fiscal year. (Updates to correct year-ago earnings and reflect that profit rose, not fell, year over year.)

Kennametal lifts low end of FY06 earns outlook

(8:44 AM ET) NEW YORK (MarketWatch) -- Kennametal
KMT, +0.03%
Wednesday reported second-quarter earnings of $31.1 million, or 79 cents a share, up from a year-ago profit of $28.2 million, or 74 cents a share. Both periods include gains from tax benefits of 5 cents and 17 cents a share, respectively. The latest results also included a stock option expense of 3 cents a share, and a domestic pension expense of 4 cents share. Sales rose 5% in the latest three months to $585.3 million from $556.2 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 73 cents a share in the December period on revenue of $590.6 million. Looking ahead, the Latrobe, Pa., maker of tooling and engineered components lifted the bottom end of its earnings outlook for the full year to $3.70 to $3.90 a share, surrounding Wall Street's current consensus estimate for a profit of $3.80 a share. The company's prior outlook was for earnings of $3.50 to $3.90 a share. The stock closed Tuesday at $59.49, up 1.7%.

M-Systems fourth-quarter results handily top estimates

(8:38 AM ET) NEW YORK (MarketWatch) -- M-Systems
FLSH
posted Wednesday fourth-quarter net income of $25 million, or 59 cents a share compared with $9 million, or 24 cents a share in the year-ago quarter. Current earnings include a one-time write off of $2.5 million related to the acquisition of Microelectronica and one-time gains of $6.3 million related to the sale of investments of $6.3 million, which combined, boosted earnings per share by $3.8 million, or 0.09 cents per share. Revenue for the period shot up 80% to $205.7 million over year-ago levels. The Thomson First Call average estimate was for earnings of 43 cents a share on revenue of $160.3 million. The Kfar-Saba, Israel-based company said gross margins dipped to 21.3% from 21.7% in the fourth quarter of 2004. On Tuesday, the stock fell 54 cents to $33.86.

ConocoPhillips net income rises 51%

(8:36 AM ET) NEW YORK (MarketWatch) -- ConocoPhillips
COP, -0.62%
reported Thursday fourth-quarter net income of $3.68 billion, or $2.61 a share, compared with $2.43 billion, or $1.72 a share, in the year-ago quarter. Revenue rose to $52.2 billion from $40.1 billion. From continuing operations alone, ConocoPhillips would have earned $3.8 billion, or $2.69 a share, compared with $2.48 billion, or $1.76 a share, in the fourth quarter of 2004. Analysts polled by Thomson First Call expected ConocoPhillips to earn $2.62 a share on revenue of $49.8 billion.

AVX Corp. tops Wall St. 3Q earns estimate

(8:35 AM ET) NEW YORK (MarketWatch) -- AVX Corp.
AVX, +0.73%
Wednesday reported third-quarter earnings of $24.4 million, or 14 cents a share, up from a year-ago profit of $7.6 million, or 4 cents a share. Sales rose in the latest three months to $349.1 million from $302.2 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 11 cents a share in the December period. Shares of the Myrtle Beach, S.C., maker of passive electronic components closed Tuesday at $15.34, up 9 cents.

McCormick 4Q earnings rise, to cut jobs

(8:34 AM ET) NEW YORK (MarketWatch) -- Spice and seasoning maker McCormick & Co.
MKC, +0.52%
on Wednesday posted fourth-quarter net income of $88.1 million, or 65 cents a share, compared to $87.4 million, or 62 cents a share in the year ago period. Sales fell to $737.1 million compared to $744.1 million a year ago. Analysts, on average, were expecting it to post a profit of 68 cents a share on sales of $760.53 million, according to Thomson First Call. As part of a restructuring plan the company will consolidate its global manufacturing, rationalize its distribution facilities, and cut 800 to 1,000 jobs.

Automatic Data Processing 2Q earns $259.7M vs $250.1M

(8:31 AM ET) NEW YORK (MarketWatch) -- Automatic Data Processing Inc.
ADP, -0.51%
Wednesday reported second-quarter earnings of $259.7 million, or 45 cents a share, up from a year-ago profit of $250.1 million, or 42 cents a share. On a continuing operations basis, the company posted a profit of $273.1 million, or 47 cents a share, in the quarter. Revenue rose in the latest three months to $2.15 billion from $1.99 billion in the same period a year earlier. The company classified its brokerage services financial print business as discontinued operations after agreeing to sell this unit on Jan. 20. The average estimate of analysts polled by Thomson First Call was for a profit of 45 cents a share in the December period on revenue of $2.17 billion. Looking ahead, ADP lifted the bottom end of its earnings from continuing operations forecast for 2006 to $1.93 to $1.96 a share from $1.91 to $1.96 a share. The stock closed Tuesday at $46.06, up 67 cents.

Silicon Labs tops earnings, revenue estimates

(8:29 AM ET) NEW YORK (MarketWatch) -- Silicon Labs
SLAB, +1.35%
said it earned $15.3 million, or 27 cents a share, in the fourth quarter, up from $12.9 million, or 24 cents a share, a year ago. The maker of integrated circuits said revenue climbed to $110 million from $95.5 million. Analysts polled by Thomson First Call were expecting earnings of 26 cents a share on revenue of $106.4 million. The company said it expects $110 to $114 million in revenue in the first quarter. Shares were last quoted up 8.7% at $45.15 in premarket trade on Instinet.

Affiliated Managers Group profit climbs 67%

(8:28 AM ET) NEW YORK (MarketWatch) -- Affiliated Managers Group
AMG, -0.54%
on Wednesday reported fourth-quarter net income of $38.8 million, or 90 cents a share, up 67% from $23.3 million, or 58 cents a share in the year-ago period. Revenue climbed 48% to $272.5 million. Cash earnings were $1.42 a share, up from $1.08 a share. A survey of analysts by Thomson First Call forecast earnings of $1.29 a share and revenue of $256.8 million. "AMG had an outstanding 2005, as we achieved broad success across all elements of our growth strategy," the company said. Shares rose 73 cents to $86.70 on Tuesday.

Allegheny Tech. earns rise, top expectations

(8:22 AM ET) NEW YORK (MarketWatch) -- Allegheny Technologies
ATI, -0.13%
reported fourth-quarter earnings of $120.4 million, or $1.18 a share, up from $35 million, or 35 cents a share in the same period a year ago. Excluding non-recurring items, earnings would have been 96 cents a share, above the average analyst estimate compiled by Thomson First Call of 88 cents a share. Revenue rose to $894.4 million from last year's $778.1 million, vs. analyst forecasts of $894.1 million. For 2006, the specialty metals company expects continued earnings growth, $225 million in capital expenditures and targets cost reduction of $100 million. The stock closed Tuesday up $2.80 at $44.52.

United Financial board lifts dividend by a penny

(8:21 AM ET) NEW YORK (MarketWatch) -- United Financial Corp.
UBMT
Wednesday said its board has approved an increase in its quarterly dividend to 23 cents a share, up a penny. The higher dividend is payable on March 1 to shareholders of record on Feb. 15. The stock closed Tuesday at $21.67, up 2 cents.

Abbott earnings up 12.7% excluding items

(8:19 AM ET) NEW YORK (MarketWatch) -- Abbott
ABT, +0.46%
on Wednesday reported fourth-quarter earnings of $976.4 million, or 63 cents a share, up 0.2% from $974.6 million, or 62 cents a share, in the year-ago period. Excluding items, earnings were $1.18 billion, or 76 cents a share, up 12.7% from $1.04 billion, or 67 cents a share in the year-ago period. Revenue climbed 7% to $6.05 billion. A survey of analysts by Thomson First Call forecast earnings of 76 cents a share and revenue of $6.17 billion. Abbott said it expects first-quarter earnings of 62-64 cents a share, excluding items and stock compensation expense under GAAP. Wall Street is expecting earnings of 63 cents a share.

Ashland 1Q earns $66M vs. $94M

(8:18 AM ET) NEW YORK (MarketWatch) -- Ashland Inc.
ASH, +1.17%
Wednesday reported first-quarter earnings of $66 million, or 91 cents a share, down from a year-ago profit of $94 million, or $1.28 a share. The company said last year's results reflect the contribution of its former 38% stake in a joint venture with Marathon Oil. The latest results include $6 million, or 8 cents a share, in interest income. Revenue totaled $2.43 billion, up from last year's $2.34 billion. The average estimate of analysts polled by Thomson First Call was for a profit of 72 cents a share in the December period on revenue of $2.42 billion. The stock closed Tuesday at $64.94, up 1%.

Bemis Co. profit dips, says resin prices to dampen 1Q

(8:15 AM ET) NEW YORK (MarketWatch) - Bemis Co.
BMS, +0.36%
reported net income Wednesday of $44.9 million, or 42 cents a share, compared with $47.3 million, or 44 cents a share in the year-earlier period. Sales at the packaging company rose 23% in the three months ended Dec. 31 to $892 million from $725.6 million. Analysts polled by Thomson First Call forecast earnings, on average, of 38 cents a share and sales of $885.6 million. Bemis said higher resin prices would dampen first-quarter earnings, which it forecast at 33 cents to 36 cents a share; analysts project 33 cents a share. Earnings in 2006 would be $1.65 to $1.75 a share, surrounding the First Call estimate of $1.66 a share.

Piper Jaffray net income climbs 39%

(8:10 AM ET) NEW YORK (MarketWatch) -- Piper Jaffray Companies
PJC, +0.88%
on Wednesday reported fourth-quarter net income of $16.4 million, or 87 cents a share, up 39% from net income of $11.8 million, or 61 cents a share. Revenue rose 6.4% to $207 million. Two analysts surveyed by Thomson First Call forecast earnings of 52 cents a share. The company cited "strong" capital markets performance and "robust" activity in advisory services.

FTD Group profit rises as revenue nudges higher

(8:03 AM ET) LONDON (MarketWatch) -- Florist FTD Group Inc.
FTD, +0.23%
said second-quarter net income jumped to $5.9 million or 19 cents a share, from $756,000 last year. Revenue added 0.8% at $109.3 million. Analysts polled by Thomson First Call were expecting earnings of 19 cents on revenue of $113.3 million. FTD said revenue growth was limited by a Christmas slowdown in its consumer retail unit and noted it has replaced the head of marketing for its consumer division. The company added it expects 2006 revenue to be in the range of $450 million to $460 million, with earnings of around 76 cents a share.

BellSouth's net profit reduced by hurricane costs

(7:57 AM ET) WASHINGTON (MarketWatch) -- BellSouth
BLS, -3.23%
on Wednesday said that fourth-quarter net income fell by more than half as the company incurred large hurricane-related costs. The company said profit dropped to $618 million, or 34 cents a share, from $1.36 billion, or 74 cents, a year ago. Adjusted for onetime items and other special factors, the local phone giant recorded income of $965 million, or 53 cents a share, up from $720 million, or 39 cents, a year ago. The company was expected to earn 45 cents a share, according to the consensus of analysts surveyed by Thomson First Call. Revenue rose 1.9% to $5.24 billion from a year ago, excluding the company's wireless business. As reported Tuesday, Cingular Wireless, the company's venture with AT&T Inc., added a net 1.8 million wireless subscribers. BellSouth owns a 40% stake. Including Cingular's share of revenue, the company saw a 9.2% increase in sales to $8.66 billion, slightly higher than Wall Street's forecast of $8.57 billion.

Rockwell Automation tops estimates, lifts 2006 outlook

(7:50 AM ET) NEW YORK (MarketWatch) - Rockwell Automation Inc.
ROK, -0.39%
reported first-quarter net income Wednesday of $145.7 million, or 80 cents a share, compared with $133.4 million, or 71 cents a share in the year-earlier period. The automation and controls manufacturer said sales rose about 10% in the three months ended Dec. 31, to $1.3 billion from $1.18 billion. Analysts polled by Thomson First Call forecast earnings, on average, of 72 cents a share on sales of $1.3 billion. Rockwell lifted its earnings outlook for 2006 by 10 cents a share, to a range of $3.10 to $3.20 a share, and said its revenue would grow by 9%.

Nova Chemicals swings to 4Q loss of $68M on charges

(7:50 AM ET) NEW YORK (MarketWatch) -- Nova Chemicals Corp.
NCX, -12.50%
Wednesday reported fourth-quarter loss of $68 million, or 82 cents a share, down from a year-ago profit of $162 million, or $1.78 a share. The latest results include a charge of $70 million related to an outage at its Corunna, Ontario flexi-cracker location, and a charge of $46 million from the closure of a Chesapeake, Va., site. Revenue rose in the latest three months to $1.43 billion from $1.37 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a loss of 3 cents a share on revenue of $1.46 billion in the December period. The stock closed Tuesday at $31.73, up 21 cents.

Kerr-McGee adjusted net income falls 3%

(7:46 AM ET) NEW YORK (MarketWatch) -- Kerr-McGee Corp.
KMG, +0.08%
on Wednesday reported fourth-quarter net income of $2.2 billion, or $18.46 a share, compared to $133.8 million, or 86 cents a share in the year-ago period. Profit from continuing operations was $653.9 million, compared with $276.1 million last year. Adjusted after-tax income was $125.7 million, or $1.07 a share, down 3% from $129.7 million, or 84 cents a share. Revenue from continuing operations was $1.8 billion, compared with $1.4 billion. Analysts surveyed by Thomson First Call forecast earnings of $1.61 a share and revenue of $1.26 billion.

Amerada Hess earns rise, top expectations

(7:43 AM ET) NEW YORK (MarketWatch) -- Amerada Hess Corp.
AHC, -2.11%
reported fourth-quarter earnings of $452 million, or $4.31 a share, up from $229 million, or $2.22 a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of $3.26 a share. Revenue rose to $7.15 billion from last year's $4.7 billion. Oil and gas production was 316,000 barrels a day, on a barrel-of-oil equivalent basis, down from 346,000 barrels a day last year. Hurricane activity in the Gulf region reduced production by 19,000 barrels a day. The oil company's stock closed Tuesday up 61 cents at $146.61.

General Dynamics profit rises 21%

(7:42 AM ET) NEW YORK (MarketWatch) - General Dynamics Corp.
GD, +0.22%
reported fourth-quarter net income Wednesday of $406 million, or $2 a share, compared with $336 million, or $1.66 a share in the year-earlier period. Sales in the latest quarter rose 12.7% to $5.83 billion from $5.17 billion. Analysts polled by Thomson First Call forecast earnings, on average, of $1.97 a share on revenue of $5.7 billion. The defense contractor said 2006 earnings from continuing operations would be $7.80 to $7.85 a share, including the effect of expensing options. The Wall Street consensus figure is $8.02 a share.

St. Jude Medical posts in-line adjusted profit

(7:42 AM ET) NEW YORK (MarketWatch) -- St. Jude Medical Inc.
STJ, -0.72%
reported fourth-quarter earnings of $5 million, or a penny a share, down from a year-ago profit of $125 million, or 33 cents a share. The latest results include a charge of $107 million, or 28 cents a share, related to in-process research and development from its acquisition of Advanced Neuromodulation Systems, and a similar charge of $46 million, or 12 cents a share, from its acquisition of Savacor Inc. Excluding items, the company earned $157 million, or 41 cents a share, in the December period. Sales jumped 29% in the latest three months $790 million from $611 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 41 cents a share on revenue of $766.5 million in the December period. Looking ahead, the St. Paul, Minn., medical device maker forecast earnings of 41 to 43 cents a share for the first quarter, excluding stock compensation expenses. For fiscal 2006, the company sees earnings of $1.77 to $1.80 a share, excluding the stock expense. Wall Street's current consensus estimates for the respective periods are for profits of 41 cents a share and $1.77 a share. The shares closed Tuesday at $53.30, up 30 cents.

Hershey profit, sales rise; affirms outlook

(7:40 AM ET) NEW YORK (MarketWatch) -- Hershey Co.
HSY, +0.36%
said Wednesday that fourth-quarter net income rose to $172.8 million, or 70 cents a share, from $167.1 million, or 67 cents, a year ago. Excluding charges and stock-option expenses, earnings would have been 76 cents a share, matching analysts' average estimate, according to Thomson First Call. Sales for the three months ended Dec. 31 advanced to $1.35 billion from $1.27 billion in last year's fourth quarter. The Hershey, Pa., confectioner said fiscal 2006 earnings per share should grow at slightly above the company's 9% to 11% long-term goal.

McGraw-Hill revenue climbs 13%

(7:34 AM ET) NEW YORK (MarketWatch) -- The McGraw-Hill Companies
MHP, +0.00%
on Wednesday reported fourth-quarter net income of $189.3 million, or 50 cents a share, down 0.4% from $190 million, or 50 cents a share, in the year-ago period. Adjusted earnings were 57 cents a share. Revenue increased 13% to $1.54 billion. "Record results at Standard & Poor's and a strong finish to an outstanding year in the education market were our growth engines in the fourth quarter and for 2005," said Harold McGraw III, chairman, president and chief executive officer. A survey of analysts by Thomson First Call forecast earnings of 56 cents a share and revenue of $1.55 billion. Looking toward 2005, the company said it expects earnings growth.

Smurfit-Stone Container loss widens

(7:32 AM ET) NEW YORK (MarketWatch) - Smurfit-Stone Container Corp.
SSCI, -0.95%
reported a fourth-quarter loss Wednesday of $92 million, or 36 cents a share, compared to a loss of $9 million, or 4 cents a share in the same period a year ago. Smurfit-Stone, a packaging and box-making company, said the recent quarterly results include restructuring charges of 6 cents a share and litigation settlement charges of 9 cents a share, among others. Analysts polled by Thomson First Call forecast a loss, on average, of 25 cents a share.

Celera quarterly net loss shrinks, sees restructuring charge

(7:31 AM ET) LONDON (MarketWatch) -- Drugmaker Celera Genomics
CRA, +0.00%
said its second-quarter net loss narrowed to $17.3 million, or 23 cents a share from a net loss of $19.4 million or 27 cents a share last year. Revenue for the quarter was $2.1 million, down from $8.1 million last year. Analysts polled by Thomson First Call were expecting a loss of 26 cents a share. Celera noted that since the end of the second quarter it has acquired Applied Biosystems'
ABI, +0.00%
50% share of the companies' joint venture -- Celera Diagnostics. Celera said it expects to make a net loss in the range of $70 million to $78 million in 2006, including a pretax restructuring charge of $30 million associated with the recent decision to reduce its small molecule drug development workforce.

SGX Pharma lowers price range on IPO

(7:27 AM ET) NEW YORK (MarketWatch) -- SGX Pharmaceuticals
SGXP
on Wednesday lowered the estimated price range on its upcoming initial public offering to $7-$8 a share, from $11-$13 a share. The San Diego-based developer of cancer drugs kept the size of the IPO at 4 million shares. Based on the midpoint of the new price range, the company will raise $30 million, down from $48 million.

AmerisourceBergen profit rises 91%

(7:22 AM ET) NEW YORK (MarketWatch) -- AmerisourceBergen
ABC, +1.26%
on Wednesday reported first-quarter net income of $97.3 million, or 47 cents a share, up 91% from $50.9 million, or 24 cents a share in the year-ago period. The pharmaceutical benefits giant said operating income increased 24% to $166.6 million from $134.1 million. Operating revenue rose 11% to $13.5 billion. A survey of analysts by Thomson First Call forecast earnings of 40 cents a share. The company reiterated its year-end profit target of $1.98-$2.13 a share, but lowered its operating margin expectation for its PharMerica unit to 4%-5% from 5%-6% on the impact of Medicare Part D.

Air Products lifts FY06 earns view to $3.30-$3.48 a share

(7:21 AM ET) NEW YORK (MarketWatch) -- Air Products
APD, -0.36%
Wednesday reported first-quarter earnings of $180.7 million, or 80 cents a share, up from a year-ago profit of $166.8 million, or 72 cents a share. Sales rose in the latest three months to $2.1 billion from $1.99 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 78 cents a share on revenue of $2.08 billion in the December period. Looking ahead, the Allentown, Pa., provider of gas and chemicals products lifted its outlook for fiscal 2006 to earnings of $3.30 to $3.48 a share, and said it expects a profit of 84 to 87 cents a share in the second quarter. Wall Street's current consensus estimates are for earnings of $3.39 a share and 84 cents a share in the respective periods. The stock closed Tuesday at $61.06, up 2.2%.

Lear Corp. posts $597 million loss, while sales edge up

(7:19 AM ET) LONDON (MarketWatch) -- Automotive interior systems supplier Lear Corp.
LEA, +0.02%
said it swung to $597 million, or $8.88 a share, loss, hurt by adverse platform mix in North America, higher raw material and energy prices, and continuing cost pressures throughout the entire supply chain. Lear took $424 million in pre-tax impairment-related charges and a $298 million tax charge, the company said, though it didn't itemize what those charges were on a per-share basis. Sales rose 2.3% to $4.4 billion.

Hershey net income climbs 3.5%

(7:13 AM ET) NEW YORK (MarketWatch) -- The Hershey Company
HSY, +0.36%
on Wednesday reported fourth-quarter net income of $172.9 million, or 70 cents a share, up 3.5% from $167.1 million, or 67 cent a share, in the year-ago period. Sales rose 6.7% to $1.35 billion. Excluding items such as stock option expenses, operating earnings were $185.7 million, or 76 cents a share, up from $170.3 million, or 68 cents a share. A survey of analysts by Thomson First Call forecast earnings of 76 cents a share. "Hershey's marketplace performance strengthened during the quarter as our takeaway within the U.S. confectionery category increased by seven percent, resulting in a 1.4 point gain in market share," the company said.

Xerox posts in-line adjusted 4Q profit; oks $500M buyback

(7:09 AM ET) NEW YORK (MarketWatch) -- Xerox Corp.
XRX, +1.38%
reported fourth-quarter earnings of $282 million, or 27 cents a share, up from a year-ago profit of $240 million, or 24 cents a share. Revenue slipped 2% in the latest three months to $4.25 billion from $4.33 billion in the same period a year earlier. Excluding a charge of 5 cents a share related to restructuring, the Stamford, Conn., copy machine maker earned 32 cents a share in the quarter. The average estimate of analysts polled by Thomson First Call was for a profit of 32 cents a share on revenue of $4.42 billion for the December period. Looking ahead, the company forecast earnings of 20 to 23 cents a share for the first quarter and said it sees net income at the high end of its outlook of $1 to $1.07 a share for fiscal 2006. Wall Street's current consensus estimate is for a profit of 22 cents a share in the March period and $1.04 a share for the full year. The company's board also approved a $500 million buyback program. The stock closed Tuesday at $14.46, up 6 cents.

First Midwest posts lower fourth-quarter net

(7:09 AM ET) WASHINGTON (MarketWatch) -- First Midwest Bancorp Inc.
FMBI, +0.39%
reported fourth-quarter net income of $22.6 million, or 49 cents a share, down from $25.2 million, or 54 cents, earned in the same period during 2004. Excluding special items, the company would have earned $26.8 million, or 59 cents a share, up from the prior year's $23.5 million, or 50 cents. Analysts, on average, had been looking for earnings of 51 cents a share, according to estimates compiled by Thomson First Call. For 2006, the company's shooting for we expect 2006 earnings in a range of $2.42 to $2.50 a share. This estimate takes into account a decrease of 4 cents a share for the expensing of stock options, offset in part by an increase of 3 cents resulting from First Midwest's Bank Calumet acquisition. Wall Street's average stands at $2.50. Shares of First Midwest added 25 cents to end Tuesday's dealings at $35.83.

Bristol-Myers 4Q sales slip

(7:08 AM ET) NEW YORK (MarketWatch) -- Bristol-Myers Squibb Co.
BMY, -0.41%
on Wednesday posted fourth-quarter income of $499 million, or 26 cents a share, compared to $139 million, or 7 cents a share for the same period in 2004. On a non-GAAP basis excluding items, the company earned $601 million, or 31 cents a share, compared to $776 million, or 39 cents a share a year earlier. Fourth quarter net sales from continuing operations were $5 billion, down 1%, excluding a 2% unfavorable foreign exchange impact. Analysts, on average, were expecting it to post earnings of 28 cents a share, according to Thomson First Call.

Ameritrade closes TD deal, declares $6 payout, lifts targets

(6:35 AM ET) NEW YORK (MarketWatch) -- Ameritrade Holding Corp.,
AMTD, +0.30%
the Omaha, Neb., online-brokerage operator, closed the acquisition of TD Waterhouse Group, creating TD Ameritrade Holding Corp., and declared a $6 dividend to its shareholders. Ameritrade also lifted its revenue expectations from the deal by $100 million and expects synergies of about $678 million. For fiscal 2006, the company increased its earnings expectations. Ameritrade expects to earn 22 cents to 28 cents in the second quarter, 20 cents to 26 cents in the third, 19 cents to 25 cents in the fourth, and 82 cents to $1 for the fiscal year. A survey of analysts by Thomson First Call produced consensus estimates of 22 cents for the second quarter and 92 cents for the year.

Ameritrade 1st-period net rose 1.9%, revenue up 5.8%

(6:26 AM ET) NEW YORK (MarketWatch) -- Ameritrade Holding Corp.,
AMTD, +0.30%
the Omaha, Neb., online-brokerage operator, reported first-quarter net income rose 1.9% on 5.8% higher revenue. For the quarter ended Dec. 31., earnings reached $86 million, or 21 cents a share, from $84.4 million, or 20 cents, in the year-earlier period. Revenue reached $277.3 million from $262 million. A survey of analysts by Thomson First Call produced a consensus estimate of 22 cents for the quarter.

Mesa Air's quarterly revenue rises 22.2%

(6:26 AM ET) WASHINGTON (MarketWatch) -- Mesa Air Group Inc.
MESA
reported net income of $13 million, or 31 cents a share, for the first quarter ended Dec. 31, off from $13.9 million, or 32 cents, earned in the same period during fiscal 2005. Revenue reached $323.6 million from $264.8 million, primarily as a result of year-over-year increases in the carrier's regional jet fleet. On an adjusted basis, Mesa Air would have earned $13.8 million, or 32 cents a share, for the latest quarter, up from the prior year's $12 million, or 28 cents. Analysts, on average, had been looking for the company to earn 31 cents a share, estimates compiled by Thomson First Call show. Load factor reached 71.7% from 71.5% in the year-ago quarter, while revenue passenger miles climbed to nearly 1.66 billion, up 16.6%. Shares of Mesa Air added 6 cents to end at $11.54 on Tuesday.

Praxair profit rises despite accounting charge

(6:24 AM ET) LONDON (MarketWatch) -- Industrial gas company Praxair Inc.
PX, +0.53%
said fourth-quarter net income rose 18.2% to $214 million or 65 cents a share including a $6 million accounting charge, without which earnings would have been 67 cents a share. Analysts polled by Thomson First Call were expecting earnings of 64 cents a share. Sales in the quarter rose 13% to $2.02 billion, driven by growth in the company's oil and gas well service business and strong packaged-gases sales. For the first quarter of 2006 Praxair expects earnings in the range of 61 cents to 65 cents a share, including a 2 cent reduction for expensing stock options. The company also increased its quarterly dividend by 39% to 25 cents.

WellPoint hikes 2006 profit outlook

(6:13 AM ET) WASHINGTON (MarketWatch) -- WellPoint Inc.
WLP
reported fourth-quarter net income of $652 million, or $1.04 a share, up from $184.5 million, or 46 cents, earned in the final three months of 2004. On an adjusted basis, the company earned $1.05 a share in the latest quarter as opposed to 85 cents a year earlier. Revenue jumped to $11.26 billion from $6.72 billion, reflecting the merger of WellPoint Health Networks with Anthem Inc. The latest quarter didn't include WellChoice Inc., the acquisition of which closed on Dec. 28. Analysts, on average, had been looking for earnings of $1.04 a share on revenue of about $11.39 billion, according to estimates compiled by Thomson First Call. For 2006, WellPoint now anticipates net income of $4.54 a share, 3 cents higher than previously forecast. Operating revenue for the year is expected to total about $57.3 billion. Analysts' average estimates stand at $4.58 a share and $53 billion. Shares of WellPoint added $1.53, or 2.1%, to end Tuesday's trading at $73.19.

(2:45 AM ET) LONDON (MarketWatch) -- U.K. home builder Crest Nicholson(UK:CRST)said Wednesday that 2005 pretax profit dipped 3% to 79.2 million pounds ($141.4 million) or 47 pence a share. Revenue for the year rose 11% at 714.3 million pounds, but gross margins fell because of increased building costs and more use of sales incentives to maintain volumes. Crest added that it has introduced a business improvement program which it expects to deliver 10 million pounds of cost savings a year from 2008.

(2:06 AM ET) LONDON (MarketWatch) -- SAP AG
SAP, -0.95%
(DE:716460), the German maker of business software, said 2006 license sales should rise 15% to 17%, compared to 18% growth in 2005, and predicted that 2006 proforma earnings per share would rise 16% to 20%. SAP reported a 14% rise in fourth-quarter net profit to 619 million euros, with revenue up 15% to 2.75 billion euros. License sales rose 18% in the fourth quarter. SAP in early January had reported its software revenue and had guided toward upper end fourth-quarter earnings per share.

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